JKML generates record cash surplus of Rs 9.91 cr

JAMMU: The JK Minerals Limited has generated a record cash surplus of Rs 9.91 crore till February during this current financial year. This was stated at the 170th Board of Directors meeting of the JK Minerals Limited held at Udhyog Bhawan held on Tuesday under the chairmanship of Minister of Industries and Commerce, Chander Parkash Ganga.

Minister for State (MoS) for Industries and Commerce Asiea Naqash was also present on the occasion.

Managing Director JKML, while deliberating upon the agenda points, apprised the Board members about the functioning and activities of the Corporation, including financial and physical achievements.

The meeting also discussed the excavation of Gypsum reserves from Dam Site at Parlanka through outsourcing arrangement under PPP mode. The Board directed the management of the Corporation to immediately invite EOI applications in this regard.

The Board was informed that the Corporation has generated revenue to the tune of Rs 10.52 crore against sale of 20167 MTs of coal during this financial year. It was also given out in the meeting that the Corporation has also generated revenue of Rs 7.52 crore from sale of 90698.928 MTs of gypsum extracted from Gypsum mines of Assar, and Parlanka of Doda and Ramban districts during this fiscal.

Addressing the Board members and the officers, Ganga stressed upon the need for formulation of effective working plan for extraction of minerals in the state to achieve full production capacity.

“The Government would explore all possibilities to harness the mineral resources of the state to boost the economy. There is a need to make mining operations profitable through enhanced production and sale,” the Minister said.

The Minister also directed the Corporation to gear up their men and machinery to ensure timely excavation of 7 million tons of Gypsum from the project site of Parlanka Mine area. While congratulating the Corporation for its achievements, the Minister directed the officers to make all out efforts to ensure that all these mining operations are made profitable through enhanced production and marketing.

While speaking on the occasion, Asiea Naqash enjoined upon the management of J&K Minerals Limited to re-double efforts towards making the Corporation more viable. “It must become role model for other Public Sector Undertakings”, she said.

Asiea called for extracting more minerals wealth in state adding that projects of coal and other minerals would be revitalized so that revenue realization is increased. She emphasized on proper utilization of human resource so that the overall production would be increased which in turn would help in increasing the sale of minerals.